BAKU, Azerbaijan, May 30. Collections on voluntary types of insurance in Azerbaijan exceeded 267.7 million manat ($157.4 million) from January through April 2022, which is 45 million manat ($26.4 million) or 20.3 percent more than the same period last year, Trend reports with reference to Central Bank of Azerbaijan (CBA).
According to CBA, the share of voluntary life insurance in fees for voluntary insurance exceeded 54 percent and amounted to 146.3 million manat ($86.05 million) in specified period.
A significant share in life insurance (93.3 percent) was occupied by accumulative life insurance, the fees for which exceeded 136 million manat ($80 million), which is 38.8 percent more than the same period in 2021.
Azerbaijani insurers made payments on voluntary types of insurance in the amount of 62.3 million manat ($36.6 million) from January through April 2022, which is 51.8 percent less than the same period in 2021.
A significant share in life insurance (96.2 percent) was occupied by accumulative life insurance, payments on which exceeded 29 million manat ($17.05 million).